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India allows 51% FDI in retail

Asia

Monday, September 17, 2012

The Indian government last week granted permission to foreign multi-brand retailers to own up to a 51 percent stake in ventures in India, a move that could allow major global retailers like Walmart and Carrefour to open stores in the booming South Asian economy. The move follows nearly a year after the concept was first formally proposed by India Prime Minister Manmohan Singh's coalition government. It's a significant development, but one that stops short of allowing si...

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